The earnings of food and beverage company RFM Corp. rose by 51 percent to P320 million in the first quarter as its consumer food brands recorded growths. In a disclosure to the exchange, RFM said its milk, pasta and flour segment saw sustained topline growth, while its ice cream and institutional bunline segment rebounded during the period. RFM said its Selecta Fortified Milk and Fiesta and Royal pasta and sauce brands improvedby 9 percent year-on-year, along with its ice cream business. But the coming election spending should provide a good shot in the arm for consumer spending in the latter part of 2021,” Concepcion noted. Shares of RFM slipped by 3 centavos or 0.63 percent to finish at P4.70 each on Thursday.

Source: Manila Times May 07, 2021 16:30 UTC